Vijay Mallya arrested in London in money laundering case

04 October, 2017, 00:33 | Author: Franklin Nunez

Absconding liquor baron and accused of defaulting on loans worth crores Vijay Mallya was arrested today for the second time in the United Kingdom this year, this time in a case of money laundering. Sources said Tuesday's arrest was procedural and nothing should be read into Mallya getting bail. The judge will then make a decision based on whether there is a prima facie case against Mallya and whether the alleged crimes would be offences in Britain as well as India.

A quirk in British law means Mallya had to return to court so the case could be formally reopened, and he declined to consent to being extradited to India to face the charges.

Mallya, who owes over Rs 9,000 crore to various Indian banks, has been living in self-imposed exile in Britain since March 2016. On April 18, Mallya who is known for his lavish lifestyle was arrested by the Scotland Yard on an extradition warrant but was released on conditional bail on a bond of 6,50,000 pounds.

Journalist and author Kinshuk Nag has documented how Mallya fled in his book Kingfizzer: The Rise and Fall of Vijay Mallya. A victory or otherwise against the battle on Mallya will send a strong signal to India's bank loan defaulters. The UK investigators also suspect that he was also involved in laundering money to Switzerland and other countries.

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